Bank AI

Dark

Bitcoin

Chad

The post <a href="https://coinpedia.org/price-analysis/xrp-price-prediction-will-xrp-hit-1-in-march/">XRP Price Prediction: Will XRP Hit $1 In March?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Prominent Bitcoin maximalist, Chase, who also runs The <a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a> Express YouTube channel, provided a straightcut and serious prediction of XRP’s potential price, challenging other optimistic price predictions. 
Chase’s statements cut through the speculative optimism surrounding <a href="https://markets.coinpedia.org/xrp/" target="_blank" rel="noreferrer noopener">Ripple’s XRP</a>. Chase dismissed the notions of XRP reaching $1,000, $589, or even $100. 
<blockquote class="wp-block-quote"> 
 In his bold assertion, Chase <a href="https://x.com/The_BTC_Express/status/1757940949819302101?s=20">predicts</a>, “Even if XRP had the same market cap as Bitcoin today ($1 trillion), then 1 XRP would be worth about $18.” 
</blockquote> 
<h2 class="wp-block-heading" id="h-contrasting-predictions">Contrasting Predictions</h2> 
The crypto community has witnessed various projections.&nbsp; 
Thomas Kralow, renowned crypto hedge fund manager, had previously predicted that XRP would hit $US30 a coin in 2023. Drozdz, a market analyst at Conoxtia <a href="https://www.forbes.com/advisor/au/investing/cryptocurrency/xrp-price-prediction/">believes</a>, 
<blockquote class="wp-block-quote"> 
 “Once the excitement around the lawsuit fades, we could see a drop in interest for XRP. That could, in the medium term, negatively impact its price,”&nbsp; 
</blockquote> 
In a recent <a href="https://twitter.com/DefendDark/status/1755893911661220339?s=20">post </a>on X, renowned technical analyst Dark Defender asserted that XRP is now poised to approach the $1 threshold. He specifically issued a target of $1.88. 
On the other hand, Wells Fargo Treasury Manager Shannon Throp has previously forecasted XRP hitting $500.&nbsp; 
However, none of these optimistic predictions remain unfulfilled. 
Also Read: <a href="https://coinpedia.org/price-analysis/shiba-inu-sees-a-decline-in-whale-interest-amid-surging-price-whats-next-for-shib-price/">Shiba Inu Sees A Decline In Whale Interest Amid Surging Price: What’s Next For SHIB Price?</a> 
<h2 class="wp-block-heading" id="h-present-xrp-market-reality">Present XRP Market Reality</h2> 
With a circulating supply of over 54 billion <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" target="_blank" rel="noreferrer noopener">XRP tokens</a>, Chase’s bold predictions bring out the fundamental challenges of achieving such high price valuations for XRP.&nbsp; 
For instance, reaching $1,000 per XRP would demand a staggering $54.5 trillion market valuation, far surpassing the entire cryptocurrency market’s current value of $1.9 trillion. 
However, Chase introduces a hypothetical scenario where XRP attains Bitcoin’s $1 trillion market cap, suggesting a price of $18. While the tone appears sarcastic, it contemplates the realistic potential for such a feat.&nbsp; 
<h2 class="wp-block-heading" id="h-xrp-s-current-state-and-community-concerns">XRP’s Current State and Community Concerns</h2> 
Examining XRP’s current market standing, priced at $0.5481 with a recent decline, community concerns are evident. Veteran Game Designer Chad Steingraber points out one <a href="https://x.com/ChadSteingraber/status/1757860482923340062?s=20">reason for XRP’s underperformance </a>– notably low inflows. The comparison with Bitcoin’s substantial netflows underscores XRP’s struggle to keep pace. 
Steingraber’s hypothetical scenario, where XRP records $500 million in daily inflows, is dissected. Utilizing the Bank of America multiplier, a potential $5 billion addition to XRP’s market cap is explored. If this addition sustains for a month, XRP’s valuation can hit $179.9 billion, resulting in a hypothetical price of $3.3 per XRP.

XRP Price Prediction: Will XRP Hit $1 In March?

Table of Contents

CoinPedia News

Άλλα άρθρα που δημοσιεύτηκαν στις 15 Φεβ 2024

Ripple (XRP) Sees Surge In Trade Volume; Cardano’s (ADA) Growth Activity Shoots Up; Algotech (ALG...

Bitcoin Surges to Record High Against Japanese Yen

Can Sui’s Token (SUI) Surge Beyond $2? Expert Weighs In Amid Collaboration With Major Gaming Firm

Polygon (MATIC) Introduces New Update to Enhance Network Performance

U.S. Spot Bitcoin ETFs Inflows Top $4 Billion

A Comprehensive Guide to Stay Away from Trust Wallet Scams

Join our free newsletter for daily crypto updates!